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News Archive

 

LGPS AMENDMENT REGULATIONS

Some amendments were made to the LGPS regulations on 17 March 2015 and came into force on 11 April 2015.  Please click here for more information on how these changes affect scheme members.

 

NEW LOCAL GOVERNMENT PENSION SCHEME 2014

A new Local Government Pension Scheme was introduced in 2014.  If you are paying into the LGPS you automatically went into the new scheme from 1 April 2014.  Please see our LGPS 2014 page for more information.

 

LIFETIME ALLOWANCE

The actuaries for Bedfordshire Pension Fund have produced a leaflet explaining Lifetime Allowance and Fixed Protection.  This may be of interest to you if your pension pot may exceed £1.5 million. You can view the leaflet by clicking here

 

Joint communications update (March 2012)

An update has been produced by the Local Government Association (LGA), UNISON and GMB in order to keep members up to date with the progress against the joint principles document published just before Christmas. This update along with all of the project documentation can be found on the LGPS members’ website  at this address:

http://www.lgps.org.uk/lge/core/page.do?pageId=15431012 

 

Joint agreement reached on a way forward for a new Local Government Pension Scheme (22 December 2011)  - Unison, GMB and Unite on behalf of the local government unions together with the Local Government Association issued a statement outlining an agreement on the principles of a new scheme and a proposed timetable.

 

Government announces final scheme designs for the four largest public sector pension schemes (20 December 2011)

The Chief Secretary to the Treasury announced the final scheme designs for the four largest public sector pension schemes.  More information is available at:

http://hm-treasury.gov.uk/tax_pensions_index.htm

The Ministerial Statement from the Secretary of State for Communities and Local Government that accompanied the Treasury's update can be viewed at

http://www.parliament.uk/documents/commons-vote-office/5.DCLG-Local-Government-Pension-Scheme.pdf

 

Government announces revised offer for public service pension reform (2 November 2011) - The Government announced a revised offer for public service pension reform and published a paper setting out its views and providing an update on the discussion with pension schemes and trade unions. 

 

Proposed Changes to the Local Government Pension Scheme  (Initial proposals issued October 2011) - The Public Service Pension Commission, headed by Lord Hutton, made a number of recommendations about the future design of public service pension schemes.  As a result, the Government is looking to reform the LGPS.  Click here for more information

 

Final report from the Independent Public Service Pensions Commission (IPSPC) 10/03/2011

The Independent Public Service Pensions Commission, chaired by John Hutton, has issued its final report on the recommendations to the Government on future pension arrangements for the public sector.  The report contained 27 recommendations for the Government to consider.

View the 27 Recommendations  (Word document 35KB)

View the full final report 

 

What the IPSPC report means for Public Sector Pensions

Public Sector Pension Reform - Factsheet for Members (PDF 1.31 MB)

Public Sector Pension Reform - Presentation (PDF 806KB)

Public Sector Pensions - Briefing Note (PDF 747 KB)

 

Pensions Increase

In the past, LGPS pensions have increased annually each year in line with the Retail Prices Index (RPI).  From April 2011 public sector pensions will increase by the rise in the Consumer Price Index (CPI).   The Office for National Statistics has announced that the rise in CPI for the year to September 2010 was 3.1%.    (October 2010)

 

Interim report from the Independent Public Service Pensions Commission 07/10/2010

http://www.hm-treasury.gov.uk/indreview_johnhutton_pensions.htm

The Independent Public Service Pensions Commission, chaired by John Hutton, will make recommendations on how public service pensions can be made sustainable and affordable in the long term.  Bedfordshire Pension Fund has submitted reponses to the Commission.  The responses can be found on the Fund Governance page.

 

Regulation Changes September 2010 (PDF 32KB)

Lifetime Allowance Update December 2008 (PDF document opens in new window)

Standard Life Sterling Fund announcement (PDF document opens in new window)

LGPS Review